Hercules Capital Closes $350M Notes Offerings
Ticker: HCXY · Form: 8-K · Filed: Aug 1, 2024 · CIK: 1280784
| Field | Detail |
|---|---|
| Company | Hercules Capital, Inc. (HCXY) |
| Form Type | 8-K |
| Filed Date | Aug 1, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $0.48 |
| Sentiment | bullish |
Sentiment: bullish
Topics: debt-offering, financing, growth-capital
TL;DR
Hercules Capital just raised $350M from two note offerings to fuel growth.
AI Summary
On July 30, 2024, Hercules Capital, Inc. announced the closing of its previously disclosed offering of 7.00% Series H notes due 2029, raising gross proceeds of $200 million. The company also announced the closing of its offering of 7.00% Series I notes due 2029, raising gross proceeds of $150 million. These offerings are expected to strengthen the company's balance sheet and provide capital for future investments.
Why It Matters
This capital raise enhances Hercules Capital's financial flexibility, providing funds for continued lending to venture capital-backed companies and potentially increasing future investment income.
Risk Assessment
Risk Level: medium — The company is issuing new debt, which increases its leverage and financial obligations.
Key Numbers
- $350 million — Total Capital Raised (Combined gross proceeds from Series H and Series I notes offerings.)
- $200 million — Series H Notes Proceeds (Gross proceeds from the offering of 7.00% Series H notes due 2029.)
- $150 million — Series I Notes Proceeds (Gross proceeds from the offering of 7.00% Series I notes due 2029.)
Key Players & Entities
- Hercules Capital, Inc. (company) — Registrant
- 7.00% Series H notes due 2029 (dollar_amount) — Debt Offering
- $200 million (dollar_amount) — Gross Proceeds from Series H Notes
- 7.00% Series I notes due 2029 (dollar_amount) — Debt Offering
- $150 million (dollar_amount) — Gross Proceeds from Series I Notes
- July 30, 2024 (date) — Closing Date of Offerings
FAQ
What was the total amount raised by Hercules Capital from the recent note offerings?
Hercules Capital raised a total of $350 million from the combined offerings of its Series H and Series I notes.
What are the maturity dates for the Series H and Series I notes?
Both the 7.00% Series H notes and the 7.00% Series I notes mature in 2029.
What was the specific interest rate for the Series H notes?
The 7.00% Series H notes due 2029 carried an interest rate of 7.00%.
What was the specific interest rate for the Series I notes?
The 7.00% Series I notes due 2029 carried an interest rate of 7.00%.
When did Hercules Capital close these note offerings?
Hercules Capital closed these note offerings on July 30, 2024.
Filing Stats: 582 words · 2 min read · ~2 pages · Grade level 9.7 · Accepted 2024-08-01 16:20:34
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share HTGC New York Stock Excha
- $0.48 — quarter 2024 total cash distribution of $0.48 per share, which will be paid to stockh
Filing Documents
- d818065d8k.htm (8-K) — 31KB
- d818065dex991.htm (EX-99.1) — 214KB
- d818065dex992.htm (EX-99.2) — 9KB
- g818065g0729115110629.jpg (GRAPHIC) — 4KB
- g818065g0801090918799.jpg (GRAPHIC) — 4KB
- 0001193125-24-191542.txt ( ) — 449KB
- htgc-20240730.xsd (EX-101.SCH) — 4KB
- htgc-20240730_def.xml (EX-101.DEF) — 13KB
- htgc-20240730_lab.xml (EX-101.LAB) — 22KB
- htgc-20240730_pre.xml (EX-101.PRE) — 14KB
- d818065d8k_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Number Exhibit 99.1 Press Release dated August 1, 2024 99.2 Press Release dated July 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HERCULES CAPITAL, INC. August 1, 2024 By: /s/ Kiersten Zaza Botelho Kiersten Zaza Botelho Secretary